Mumbai, India – May 26, 2014 –According to the global e-Invoicing market research, this sector is estimated to grow by CAGR of 23.3% in 2013 to 2018. One of the key disadvantages this sector faces is the complex procedure used in the Electronic Purchasing Process.
The e-Invoice market has been witnessing smart growth since this system eliminates operational prices to some extent as it is automatic, which instigates it demand in the market. E-invoicing is referred to the process of internet transactions involving exchange of bills between customers and organizations in an organized electronic format, utilizing the internet technology. The system is also known as ‘e-Billing’ and comes in with numerous benefits especially for clients as they are able to enjoy updated technology. Companies too are highly benefitted as they are assured of faster customer payments, reduced consumption of paper, keep track of invoices such that none are lost, efficient accounting processes and effectively supervise other managerial functions. Digital transforming of the invoicing system has greatly helped institutions by allowing them to become more credible and swift.
Key Global e-Invoice Markets
Some of the most popular markets of e-Invoice are present in regions like Europe, North America and APAC or Asia Pacific nations. They represent the world landscape of this particular segment which boast of some key vendors.
Key Players of e-Invoice Markets
The global e-Invoice markets are operating successfully due to the presence of several key vendors in the industry including IBM Corp., Basware, Ariba Inc., Esker, Comarch, Cegedim, Nipendo, Maventa Ltd., Itella Corp., Taulia, ReadSoft, Pricewaterhouse Coopers, Verain, Transcepta LLC and TradeShift.
Overall Market Outlook
At present, the availability of the system of ‘Cloud Computing’ is one of the important trends of the global e-Invoice market. This market is encouraged by the constant requirement for an automatic e-Billing or e-Invoicing procedure which have ushered in immense efficiency.
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